Municipals were weaker Tuesday as U.S. Treasury yields rose and equities ended down. The two-year muni-Treasury ratio Tuesday was at 67%, the three-year at 68%, the five-year at 67%, the 10-year at 66% and the 30-year at 87%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the two-year at 70%, the
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A default on the nation’s debt, if Congress is unable to raise the federal debt ceiling in coming weeks, would boost mortgage rates by at least two percentage points and cause a slump in home sales as costlier financing puts real estate beyond the reach of more Americans, according to Jeff Tucker, a Zillow senior
Alabama’s Senate is considering a new bill to boycott companies employing environmental, social, and governance rating criteria in their investment decisions. The Alabama Senate Committee on Fiscal Responsibility and Economic Development approved Senate Bill 261 10-3 late last week, sending to the floor for general debate legislation aimed at curbing the use of ESG decisions
Three High Court judges invested in controversial tax avoidance schemes that were challenged by HM Revenue & Customs, including one judge who has ruled on tax avoidance cases, raising questions about the UK’s lax approach to disclosure of judicial interests. The investments by Justices Joanna Smith, Simon Bryan and Martin Griffiths were first made about
People queuing outside Shake Shack in London. Latest Covid-19 lockdown slams UK business owners. SOPA Images | LightRocket | Getty Images Check out the companies making headlines in midday trading. Shake Shack — The fast food chain’s stock jumped more than 6% after the Wall Street Journal reported that activist investor Engaged Capital is planning
Jackson County, Missouri, hits the market with a $260 million special obligation issue that will wrap up financing for a new jail complex long in the works that was chosen as the best option to deal with overcrowding and other public safety and mental health treatment goals. The bonds are expected to price as soon
On May 15, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Report,” which revealed that digital asset investment products experienced another week of consecutive outflows, with a total of $54 million exiting the market. This brings “the total outflow to US$200m, representing 0.6% of total assets under management (AuM),” CoinShares reported.
Two Federal Reserve officials signaled they favored pausing interest rate increases, while a third policymaker said the central bank’s task in subduing inflation was not complete. “We at the Federal Reserve probably have more work to do on our end to try to bring inflation back down,” Minneapolis Fed President Neel Kashkari said Monday during
Beach homes are seen on September 30, 2020 in Southampton, New York. Kena Betancur | AFP | Getty Images An oversupply of summer rentals in the Hamptons is spurring price cuts of 20% or more, as affluent Wall Streeters and tech workers cut back on their summer spending. There are now about 5,700 seasonal rentals
Chinese and French foreign ministers have expressed readiness to strengthen cooperation and pursue a “close and enduring comprehensive strategic partnership,” according to China’s Ministry of Foreign Affairs. This followed a “successful” meeting between French President Emmanuel Macron and Chinese President Xi Jinping. China and France to Strengthen Relations State Councilor and Foreign Minister Qin Gang
Voters are heading to the polls in Turkey’s most consequential election in two decades as longtime leader Recep Tayyip Erdoğan seeks to fend off a united opposition led by Kemal Kılıçdaroğlu. Polls opened at 8am Ankara time on Sunday in presidential and parliamentary elections that offer two widely divergent paths for Turkey. Erdoğan, who first
The S&P 500 Index (SPX) closed the week with a nominal loss of 0.29% but Bitcoin (BTC) is on target to finish the week with a deeper cut of more than 5%. The weakness in Bitcoin pulled several altcoins lower, indicating weakening sentiment. A silver lining is Bitcoin’s solid bounce on May 12. Several analysts
Memecoins’ security and dependability as a medium of exchange remain a topic of debate in the cryptosphere. Memecoins are said to be safe and decentralized, but some are concerned about their volatility and lack of oversight. Memecoin proponents claim that because they are decentralized, users have more control over their money and are protected from
Top Stories This Week Coinbase calls Pepe a ‘hate symbol,’ prompting calls to boycott the exchange An email sent out to Coinbase customers describing the Pepe the Frog meme as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community this week. Two hours after the email was sent,
Ethereum core developers rolled out patches for Prysm Labs and Teku clients as a response to two Beacon Chain finality issues within a 24-hour period. The Beacon Chain serves as the consensus layer for the Ethereum network. On May 11, Ethereum developers reported that the Beacon Chain was experiencing problems confirming transactions. Although new blocks
The shape of a possible US debt ceiling agreement between the White House and Republicans in Congress is emerging as they intensify talks in a bid to avoid an unprecedented national default. People familiar with the matter said that the issues on the table in the talks had narrowed, as senior Biden administration officials and
In Malibu, California, sand is gold. Where homes are sited―whether sandcastle-close along Broad Beach Road or atop Point Dume cliffs―is all about the correlation to beaches glinting in a sunset’s glow. The main show is the Pacific Ocean and its sonic swells―that serene rhythmic roll homebuyers crave to hear 24/7 and will gladly pay millions
The International Monetary Fund (IMF) has warned of “very serious repercussions” to both the U.S. and the global economy if the U.S. defaults on its debt obligations, which could be as soon as June 1. “We are calling on all of the parties to come together, reach consensus, and resolve the matter as quickly as
In this article HOOD TWLO IEP NWSA FSLR Follow your favorite stocksCREATE FREE ACCOUNT Connie Black makes adjustments to the manufacturing line for the series 6 solar panels seen during a tour of a First Solar plant in Walbridge, Ohio, October 6, 2021. Dane Rhys | Reuters Check out the companies making the biggest moves
California Gov. Gavin Newsom said “no” to revenue anticipation notes and a tax increase, but “yes” to climate and mental health bond proposals in the May budget revisions he presented Friday. Newsom stressed emphatically that the state has no plans to issue revenue anticipation notes despite expectations that $49 billion in anticipated revenues won’t come